Guideline Value for KOTHANDARAMA NAIDU NAGAR

Kothandarama Naidu Nagar guideline value

The current guideline value of Kothandarama Naidu Nagar is Rs 350 per sq.ft, effective from 1 July 2024. This street is located in Kovilkuppam village and falls under the Manavalanagar SRO, classified as Residential Class II Type - II.

How the guideline value of Kothandarama Naidu Nagar has changed

The guideline value for Kothandarama Naidu Nagar has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 350 per sq.ft. In 2017, the value decreased to Rs 234 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the guideline value increased by 50%, bringing it back to Rs 350 per sq.ft. The 2024 revision maintains this value, showing a stable trend with no percentage change from 2023.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 350 per sq.ft.

Guideline values in Kovilkuppam

Kovilkuppam village has a total of 68 streets under the Manavalanagar SRO, with guideline values ranging from Rs 300 to Rs 800 per sq.ft. The median guideline value for these streets is Rs 350 per sq.ft, which is equal to the 2024 figure for Kothandarama Naidu Nagar.

• Kaveri Nagar: Rs 300 per sq.ft (2024)
• Lakshmi Nagar: Rs 300 per sq.ft (2024)
• Manickam Nagar: Rs 350 per sq.ft (2024)
• Marudur Town: Rs 300 per sq.ft (2024)
• J.S.Nagar: Rs 700 per sq.ft (2024)
• Jothi Nagar: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Kothandarama Naidu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value would be Rs 3,50,000. The stamp duty at 7% would amount to Rs 24,500, while the registration fee at 2% would be Rs 7,000. Therefore, the total cost for stamp duty and registration fees would be Rs 31,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kothandarama Naidu Nagar?

The Sub Registrar Office that covers Kothandarama Naidu Nagar is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kovilkuppam

The guideline value is a crucial factor during the registration of property transactions in Kovilkuppam. It serves as the basis for calculating stamp duty and registration fees, which are mandatory for all property sales. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable charges. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kothandarama Naidu Nagar?

The current guideline value of Kothandarama Naidu Nagar is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revision in 2024 maintaining a value of Rs 350 per sq.ft. The previous revision in 2023 also recorded the same value, while there was a decrease to Rs 234 per sq.ft in 2017.

What are the stamp duty and registration fees for property in Kothandarama Naidu Nagar?

The stamp duty for a property valued at Rs 3,50,000 would be Rs 24,500, and the registration fee would be Rs 7,000. Together, these fees amount to Rs 31,500.

Which Sub Registrar Office covers Kothandarama Naidu Nagar?

The Manavalanagar Sub Registrar Office covers Kothandarama Naidu Nagar, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

What is the land classification of Kothandarama Naidu Nagar?

Kothandarama Naidu Nagar is classified as Residential Class II Type - II, indicating its designation for residential purposes within the area.